Indian Market outlook:-

Indian equities are expected to get a gap down opening on back of negative global cues and remain volatile due in latter session.
Technically nifty as an intraday resistance at-5490-5525 levels and Support is seen at 5428-5399  levels.
The SGX nifty is trading down by 85 points at 5382
Curcialsupport is seen at 5392
FII's were net SELLERS worth rs 202 cr in case market (2-07)


Market may open with a downside gap and is likely to trade lower. Selective buying can be seen in the second half of the day.

 SENSEX (18109)

Sensex has support at 18037, 17998 below 17901. Resistance at 18145 and 18201.

NIFTY (5456)

Resistance at 5475 and 5488. Support at 5428, 5400, 5385, 5365 and 5343.

RECOMMENDATIONS

1)     DLF (227.2)

   Support at 222 below 218 and more. Resistance at 229 and 235. (Expect sideways movements)

2)     CIPLA (313.55)

    Support at 308 and 305.  Resistance at 315 above 318 and 321.  (Buy at declines)

3)     BPCL (658)

Support at 652 above it can test 648. Resistance at 660 above 668 and more. (Buy at declines).

4)  RCF (80.35)

   Resistance at 81 above 83 and 86.  Support at 79 and 77. (Buy at declines)

5)     FUTURE CAPITAL HOLDINGS LTD (185)

   Resistance is there at 187 above it can test 191 and 198. Support at 181 and 176. (Buy at declines)

DERIVATIVE STRATEGIES

           

SELL ICICI BANK FUTURES AROUND 1032 LEVELS

SELL INFY FUTURES AROUND 2768 LEVELS